All Forum Posts by: Luwani N.

@David Li it truly is a weird time. What part of Utah are you specifically looking at?

Good day @Guifre Mora,

Yes I was calculating with rehab out of pocket or another source of income, because I have heard that most banks do not lend on the rehab. So this brings into question if that information/speculation is accurate. I am calculating 100% finance at 5%. 

I apologize for the late responds. I drive trucks and this has been a very busy and crazy past two weeks with the Corona Virus outbreak.

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*This link comes directly from our calculators, based on information input by the member who posted.

I am basing these numbers on typical life-span of big ticket items, since there are no records of pulled permits on anything from the year it was built. The seller is asking about $63k; however, it has been appraised recently to be worth $40.5k.

It has been on the market for nearly an entire year, as well, so maybe I can ask for less? What do you guys think of it?

I believe it will need:

• Roof
• Water Heater
• Appliances
• HVAC
• New Floors
• Plumbing
• Paint
• Cabinets/Counters
• Landscaping (which is not very much)
  

It is near a college so I was also considering renting it by room as well.

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*This link comes directly from our calculators, based on information input by the member who posted.

The repairs I have considers and their factors are as follows:

1. Possibly Roof (due to recent hurricane in the area in 2018)
2. Water Heater (over life-expectancy)
3. Appliances (over life-expectancy)
4. HVAC (over life-expectancy)
5. Flooring (they look terrible in the pictures and not long lasting)
6. Paint
7. Cabinet/Counters
8. Lanscaping
9. Septic System Replacement/Cleaning

@Jaysen Medhurst I appreciate the adjustments, I made some changes and utilized the BRRRR calculator. I will be posting the update shortly.

@Chris VanAckeren I have not been able to walk through the property and I will not have more accurate information until around Thursday.

The repairs I have considers and their factors are as follows:

1. 1. Possibly Roof (due to recent hurricane in the area in 2018)
2. 2. Water Heater (over life-expectancy)
3. 3. Appliances (over life-expectancy)
4. 4. HVAC (over life-expectancy)
5. 5. Flooring (they look terrible in the pictures and not long lasting)
6. 6. Paint
7. 7. Cabinet/Counters
8. 8. Lanscaping
9. 9. Septic System Replacement/Cleaning

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Good day to everyone in BP!

Here is a 3-2 that I did a practice analysis on to see. I checked the value of the other comparable houses in the area the lowest appraised was for 135k. I used a combination of zillow's map feature and the county's tax appraisal records. In another report, I have analyzed the property at 70% of this purchase price but for now I wanted to see if the deal still made sense with the price they requested. 

Please give your honest critique and tell me where I can improve.

@Jason Maddox I am from Jacksonville, where the Camp Lejeune Marine Corp Base is.  I'm considering the area heavily to invest because of its 50k+ Marines and Sailors in the area.  How about you? 

Welcome Jason! As a fellow new member from the coast of NC. I hope at some point, we can bounce ideas off each other.

Thank you for posting Kristina. This actually helped me to narrow down my criteria for markets. I'll be using this information from now on.

We definitely will, Louis! I would love to connect with you and talk about goals and how we may be able to help each other push forward.